2022 in review for BPE’s commercial property team
BPE’s Commercial Property Team have been reflecting on their achievements over the last 12 months. The team boast clients that include high end fashion retailers, a top flight rugby team and heavyweight property developers. Here are some of their work highlights of 2022:
- The Wilson Health Centre, Cheltenham – the team’s super surgery specialists, led by Head of Property Services, Jo Bewley, have been advising on the acquisition, construction and financing of the new Wilson Health Centre since 2019. The new super surgery opened its doors to patients on 21 June 2022 and brought three surgeries (Berkeley Place Surgery, Prestbury Park Medical and Royal Crescent Surgery) together under one roof with over 40 NHS primary care medical professionals providing support to the Cheltenham community including GPs, nurses and phlebotomists, more consulting and treatment rooms, as well as an on-site pharmacy and future dental service.
- Sale of The Lightbox Building for £7.5million for Boultbee Brooks Real Estate – Having been acting for Boultbee Brooks Real Estate since 2014, BPE’s Property Team advised in 2022 on the sale of The Lightbox Building for £7.5million. After successfully completing a renovation of the building and re-lettings to new tenants, Boultbee Brooks took the opportunity to sell the property to a family-owned investment company, which has a diverse and global property investment portfolio across a range of countries and sectors. Commercial Property Partner, Doug Armstrong, with support from Associate Natalie Betteridge and Trainee Solicitor Eleanor Gobey, led in advising the long-standing client on the sale of the multi-let office accommodation, compiling property and tenant due diligence to satisfy both the buyer and their lender, as well as negotiating the sale contract which included an escrow for vacant units alongside deeds of assignment for construction documents and warranties.
- Option and Promotion Agreement of Land at Winchcombe with Bromford HA (£10MIL) - Paul Engelbrecht, a Partner who joined BPE’s Commercial Property team in 2022, advised landowners on an Option and Promotion Agreement entered into with Bromford Housing Association, in a deal worth £10million. The site is hopefully going to deliver an invaluable housing supply of 100 new homes to Gloucestershire and has involved multiple parties and partners.
- New office premises in Shoreditch for Decentralised Exchange platform, Swapsicle UK Limited – Doug Armstrong (Partner), together with Tom Christie (Associate) advised Swapsicle on the lease of their new office premises in the creative tech centre of Shoreditch, London. Swapsicle is a de-centralised exchange (DEX) platform which offers a secure yet simple trading experience for the user to swap, trade, farm or pool their crypto assets. Future plans for Swapsicle include enabling cross-chain listings on the platform.
- Series of acquisitions for KFC in Gloucestershire – Paul Engelbrecht, Partner, has advised international fast food restaurant chain, KFC on an acquisition. This is just the beginning of the relationship. Paul and the team will continue to advise Gerard Nicholas and the family at KFC on future acquisitions and transactions which will see the chain cement its place in Gloucestershire.
Jo Bewley, Commercial Property Team Leader and Partner, said of the last 12 months ““It has been another great year for the Team with the above transactions showing the depth and breadth of experience and the excellent quality of lawyers and clients that we have. We are looking forward to 2023 which has already started on a very strong footing”.
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.